National Review Online: Merry Christmas to America’s Top 1 PercentBy Deroy Murdock
... Sen. Bernie Sanders, a self-styled socialist, who spent nearly nine hours on December 10 excoriating affluent Americans. Sanders complained to colleagues that “when the rich get richer ... they say: ‘I am not rich enough. I need to be richer.’ What motivates some of these people is greed and greed and more greed.”
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How do the rich behave absent government coercion?
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Among these multi-millionaires, 98.2 percent contributed to charity, versus just 64.6 percent of the general population. The wealthy typically gave away about 8 percent of their incomes in 2009. This figure has slipped as the economy has slid. In 2007’s survey, the rich donated between 9.3 percent and 16.1 percent of income.
In 2009, 26.8 percent of Americans volunteered with charitable organizations. However, 78.7 percent of wealthy people volunteered — nearly triple the national figure. The average rich respondent volunteered 307 hours. Rather than merely write checks, the average wealthy American last year gave to charity the equivalent of 38 eight-hour shifts.
The Center on Philanthropy researchers valued each hour of voluntarism at $20.85. So, the average rich American’s 307 volunteer hours equaled $6,400.95.
Read the linked article for the rest of the details.
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